Guideline Value for Vellalar Street

Vellalar Street guideline value

The current guideline value of Vellalar Street in 44.Ayanambakkam village, under the Konnur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - III land classification.

How the guideline value of Vellalar Street has changed

The guideline value for Vellalar Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 1,700 per sq.ft, marking a 6% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 59%.

It is important to note that the register does not contain figures for the years 2002, 2003, 2007, and 2012 for Vellalar Street. The increase from 2017 to 2023 was substantial at 49%, reflecting a notable change in the guideline value during that period.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, positioning Vellalar Street's 2024 figure above this median.

• Vengateshwara Industrial Estate: Rs 2,750 per sq.ft (2024)
• Venture Garden: Rs 3,500 per sq.ft (2024)
• Vanagaram Road: Rs 2,200 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extension-X: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (IV): Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn- IX: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vellalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vellalar Street?

The Sub Registrar Office that covers Vellalar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in 44.Ayanambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Vellalar Street?

The current guideline value of Vellalar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,700 per sq.ft in 2024, representing an overall increase of 59%.

What are the stamp duty and registration fees for a property in Vellalar Street?

The stamp duty for a property in Vellalar Street is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,53,000.

Which Sub Registrar Office is responsible for Vellalar Street?

The Konnur Sub Registrar Office is responsible for Vellalar Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees. It is the basis for calculating the applicable duties when registering a property, ensuring that the government receives the correct revenue based on the property's assessed value.